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Property profile & analytics
OFF-MARKET
Estimated value
$22,240,000
Outlet malls
7345 Delridge SW Way Seattle, WA 98106-1740
Entity Owned
23-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US90-0854924
Property profile
Verified
Property type
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Year built
2005
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
94,713 SF
Lot
8.04 ac (350,213 SF)
Zoning code
C1-55 (M)
APN
798540-0295
UPID
US90-0854924
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Penske Truck Rental Car Rental Facility
-
KeyExpress Locksmiths Locksmith (Bike/Boat/Book/etc) Store
-
ATM Atm
-
Pro Desk at The Home Depot Big Box & Wholesale Store Building Supply
-
Compact Power Equipment Rental (Bike/Boat/Book/etc) Store Rental Equipment Company
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$21.73M
Comparable Approach
Comparable
$16.56M
Blend (final)
Blend
$22.24M
Owner & transaction history
Home Depot USA INC · 23 yrs held
Home Depot USA INC
since 2003
3 recorded transactions
Zoning & alternative use
C1-55 (M) · Seattle, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Seattle submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Seattle submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$23,540,000
6.5%
$21,725,000
7%
$20,175,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$33,590,000
Change: -12% · Conversion: Difficult
OFFICE BUILDING
$33,470,000
Change: -12% · Conversion: Easy
MEDICAL BUILDING
$32,565,000
Change: -14% · Conversion: Difficult
Blend value · Realmo final
$22.24M
Range $20.02M – $24.46M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$235 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2022Property tax & assessments
Tax year 2022
Tax billed
$273,082
Tax year 2022
Assessed value
$26,823,720
Assessed 2022
Previous assessed
$26,823,720
+0.0% YoY
Effective rate
1.02%
On assessed value
Assessed land
$25,215,300
Assessed improvement
$1,608,420
Land market value
$25,215,300
Improvement market value
$1,608,420
Total market value
$26,823,720
Applied tax rate
10.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Status
Off-Market
Year built
2005
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
SPACE
Stories
1
Total area
94,713 SF
Lot
8.04 ac (350,213 SF)
Zoning code
C1-55 (M)
APN
798540-0295
UPID
US90-0854924
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
C1-55 (M) · Seattle, WA
Zoning C1-55 (M) · permitted uses
C1-55 (M) · Seattle, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Seattle. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS)
Est. value
$33.6M
OFFICE BUILDING
Est. value
$33.5M
MEDICAL BUILDING
Est. value
$32.6M
APARTMENT HOUSE (5+ UNITS)
OFFICE BUILDING
MEDICAL BUILDING
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2005
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
SPACE
Stories
1
Lot
8.04 ac
Current owner
From public records · entity-resolved
Home Depot USA INC
Entity
Mailing address
570 DELAWARE AVE, BUFFALO, NY 14202-1206
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2003
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 25, 2003
—
First Berkshire Properties LLC
—
Deed Of Trust
related
$55,500,000 · Wells Fargo Bank
May 5, 2003
—
Home Depot USA INC
Kmart Corp
Quit Claim Deed
related
—
Jan 8, 2002
—
Fbbt Associates
First Berkshire Business Trust
Quit Claim Deed
related
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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